Question 2945 Deck General
70% to passA vessel has been damaged by fire. The survey shows the cost of repairs will exceed the value of the repaired vessel. This is an example of a(n) _______________.
A
actual loss
B
constructive total loss
C
preferred loss
D
salvage loss
AI Explanation
The correct answer is B) constructive total loss. A constructive total loss occurs when the cost of repairing a damaged vessel exceeds the value of the vessel after repairs. In this scenario, the survey shows the cost of repairs will exceed the value of the repaired vessel, which meets the definition of a constructive total loss. The other options are incorrect: A) Actual loss refers to the complete physical destruction of a vessel, which is not the case here. C) Preferred loss and D) Salvage loss are not relevant to this situation.
Related Questions
Q@q.QuestionNumber:Introducing inert gas into a tank already inert with the object of further reduc...
Q@q.QuestionNumber:The DEEP DRILLER is operating with KGL at the maximum allowable value (70 knots)...
Q@q.QuestionNumber:Preparation of muster lists and signing of same is the responsibility of the __...
Q@q.QuestionNumber:The flash point of a product is 100°F. What can happen if it is heated above 11...
Q@q.QuestionNumber:When talking about wire rope, the lay of the wire is the _______________.
Ready to test your knowledge?
Take a Deck General Practice Exam
Official Resources
Want to practice with timed exams?
Download Coast Guard Exams for the full exam experience with progress tracking.
Get the App